Gazprom Profiting Mightily From German Nuclear Exit

[wtmusic]

The headquarters of the largest gas company in the world.

"The European Energy Review (available with a free registration) has published a detailed article titled Gazprom: back in the game – and ready to take on Brussels that paints a picture of Gazprom’s continued pattern of aggressive market actions aimed at locking European customers into long term contracts at prices that must make many US natural gas suppliers jealous.

Gazprom expects gas prices to reach $400 per 1,000 cubic metres by the end of the year, as against an average of $306 in 2010. Even though European gas consumption has stagnated this year and even declined during the first four months of 2011 compared to the previous year, Russian gas exports to Europe have increased. Gazprom is counting on sales of 155 billion cubic metres (bcm) to Europe in 2011, up from 139 bcm in 2010, Medvedev told a group of journalists in Austria.

Gazprom’s new-found confidence has everything to do with political and economic developments in the European energy market. … Germany is planning to phase out its nuclear power."

http://theenergycollective.com/rodadams/61545/gazprom-profiting-mightily-german-nuclear-exit?utm_source=feedburner&utm_medium=feed&utm_campaign=The+Energy+Collective+%28all+posts%29

Breaking: no Easter Bunny, and German wind/solar is for suckas.